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Intelligent Transport Systems (ITS) Market Will Be Worth of $24.75 Billion by 2017 at an Estimated CAGR of 12% from 2012 to 2017

Intelligent Transport Systems (ITS) Market is expected to reach $24.75 billion by 2017, at a CAGR of 12% from 2012 to 2017.

 

Dallas, TX -- (ReleaseWire) -- 03/05/2014 -- According to a new market research report “Intelligent Transport Systems Market - Trends, Adoption & Worldwide Forecasts (2012 – 2017).

Browse 128 tables spread across 287 pages and in-depth TOC on “Intelligent Transport Systems (ITS) Market”
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Intelligent transport systems market is expected to reach $24.75 billion by 2017, at an estimated CAGR of 12%. Solutions to traffic congestion, government funding, better supply chain management, etc. are the major drivers of this market. Intelligent transportation system offers features like traffic prediction, analytics and decision support, advisory services, traveler information, ticketing and fare collection. Modern tools like roadside sensors, radio frequency tags, and global positioning systems also assist in monitoring and managing transport more effectively.

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The term “Intelligent Transportation System” refers to the integration of the information and communication technology to improve the transportation network related to the railways, roadways, airways, and marine transport. The major focus of the government is towards the improvement of the road transportation due to the increasing number of road accidents and congestion in almost all the countries. Increasing mobilization from the rural to urban areas is one of the major reasons behind the increasing number of vehicles on the roads, which causes traffic problems as well as pollution. “ITS” is the best solution to all the problems on the road. This report covers the “Intelligent Transportation System for the road transportation”.

This report describes the various systems of ITS such as Advanced Traffic Management System (ATMS), Advanced Traveller Information System (ATIS), ITS-Enabled Transportation Pricing System, Advanced Public Transportation System (APTS) and Commercial Vehicle Operation (CVO). Out of all the above types, Advanced Traffic Management System, Advanced Public Transportation System and ITS enabled Transportation Pricing System are mostly deployed systems. The demand for the Advanced Traveler Information System is going on increasing to improve the safety and security of the travelers and drivers.

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Intelligent transportation systems are the advanced applications to provide innovative services to road transport. It is a system wherein information and communication technologies are applied. The major reason behind deployment of Intelligent Transportation Systems is to reduce the traffic congestion, provide real time control, and improve the communication networks. With the increasing number of vehicles and increasing population, traffic congestion has become one of the major problems in urban areas. The governments of many countries like the U.S., Germany, Japan, U.K., etc. are keenly interested in deploying ITS solutions. A massive research is being carried out to improve the road transport, such as the U.S. Department of Transportation is conducting research activities on ITS through its RITA (Research and Innovative Technology Administration) wing.

Intelligent transportation systems has been categorized by different systems such as advanced traffic management system, advanced traveler information system, ITS enabled pricing system, advanced public transportation system, and commercial vehicle operation. Advanced traffic management system and transportation pricing system will remain at the top by 2017. There are numerous deployments of the ITS systems happening all over the world. This will boost the market for the different systems in ITS. The demand for transportation pricing system is increasing due to the increasing development of the electronic toll booths on the expressways and highways in the developed countries like the U.S., Germany, etc. as well as in the developing countries like India, China, and South Korea.

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